Airbnb, Inc. (NASDAQ:ABNB) Short Interest Update

Airbnb, Inc. (NASDAQ:ABNB) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 14,780,000 shares, an increase of 7.3% from the October 15th total of 13,770,000 shares. Based on an average daily trading volume, of 4,260,000 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABNB shares. BMO Capital Markets decreased their price objective on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Susquehanna lifted their price target on Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday, November 11th. Citigroup increased their price objective on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird lifted their target price on shares of Airbnb from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald reissued an “underweight” rating and set a $94.00 price target on shares of Airbnb in a research report on Monday, October 7th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $139.42.

Insider Activity

In related news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $27,692,280.00. Following the transaction, the chief executive officer now directly owns 13,315,912 shares of the company’s stock, valued at approximately $1,597,909,440. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $72,000.00. Following the transaction, the chief technology officer now directly owns 195,844 shares in the company, valued at $23,501,280. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

A number of hedge funds have recently added to or reduced their stakes in ABNB. Pacer Advisors Inc. increased its holdings in shares of Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after purchasing an additional 4,172,985 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Airbnb by 158.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock worth $958,279,000 after buying an additional 3,558,178 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Airbnb by 19,052.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after acquiring an additional 1,684,646 shares during the period. Farallon Capital Management LLC purchased a new stake in shares of Airbnb during the 1st quarter valued at about $265,292,000. Finally, Meritage Group LP bought a new stake in shares of Airbnb in the third quarter worth approximately $160,985,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Stock Performance

Airbnb stock opened at $132.50 on Monday. The stock’s 50 day moving average is $130.99 and its 200 day moving average is $136.44. The company has a market capitalization of $84.00 billion, a P/E ratio of 46.49, a PEG ratio of 1.87 and a beta of 1.15. Airbnb has a twelve month low of $110.38 and a twelve month high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, equities research analysts predict that Airbnb will post 4.04 earnings per share for the current fiscal year.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.